International Flavors & Fragrances Inc. (IFF) to Issue Quarterly Dividend of $0.40 on July 10th

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Friday, June 21st will be paid a dividend of 0.40 per share by the specialty chemicals company on Wednesday, July 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 21st.

International Flavors & Fragrances has raised its dividend payment by an average of 2.2% annually over the last three years. International Flavors & Fragrances has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Flavors & Fragrances to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 37.0%.

International Flavors & Fragrances Trading Up 1.4 %

Shares of NYSE:IFF opened at $96.15 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. International Flavors & Fragrances has a fifty-two week low of $62.11 and a fifty-two week high of $99.91. The firm’s 50-day simple moving average is $91.92 and its 200-day simple moving average is $84.42.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.86 by $0.27. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.78 billion. International Flavors & Fragrances had a positive return on equity of 5.78% and a negative net margin of 22.01%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 EPS. As a group, equities analysts predict that International Flavors & Fragrances will post 3.86 EPS for the current year.

Insider Buying and Selling

In other International Flavors & Fragrances news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the sale, the insider now directly owns 8,539 shares in the company, valued at approximately $816,840.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

IFF has been the subject of several recent research reports. Argus downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Morgan Stanley reissued an “equal weight” rating and issued a $100.00 price objective on shares of International Flavors & Fragrances in a research report on Tuesday, May 21st. Robert W. Baird raised their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Wells Fargo & Company lifted their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Mizuho increased their price objective on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Hold” and a consensus target price of $95.61.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.